23,772 Shares in GE Vernova Inc. $GEV Acquired by KADENSA CAPITAL Ltd

Key Points

• KADENSA CAPITAL Ltd has acquired a new position in GE Vernova Inc., purchasing 23,772 shares valued at approximately $7,257,000.
• Several analysts have recently upgraded their price targets for GE Vernova, with estimates ranging from $614.00 to $706.00, indicating a strong buy sentiment for the stock.
• GE Vernova declared a quarterly dividend of $0.25 per share, representing a 0.2% annual yield with a payout ratio of 24.10%.

KADENSA CAPITAL Ltd acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,772 shares of the company's stock, valued at approximately $7,257,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova during the 1st quarter worth approximately $912,000. Resona Asset Management Co. Ltd. boosted its position in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova during the 1st quarter worth $458,000. Golden State Wealth Management LLC lifted its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in GE Vernova by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after purchasing an additional 2,942 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America raised their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $573.75.

GE Vernova Stock Up 3.0%

Shares of GE Vernova stock traded up $17.49 on Monday, hitting $599.57. 2,466,554 shares of the company's stock traded hands, compared to its average volume of 3,519,059. The stock has a market cap of $163.22 billion, a P/E ratio of 144.48, a PEG ratio of 4.02 and a beta of 1.88. The firm's 50-day moving average is $597.95 and its 200 day moving average is $458.69. GE Vernova Inc. has a 52-week low of $197.38 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the company earned $4.65 earnings per share. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.